Remittances to their home countries by foreigners working in GCC countries has reached US $74.5 Billion (SR279.4 Billion) in 2011, according media reports citing World Bank data. The number of foreign workers in the GCC countries stood at 15.1 million at the end of 2010, representing 36.3% of the GCC’s total population, which is estimated at 41.7 million in 2010, the report said. Saudi Arabia ranked first in the volume of remittances within the GCC countries, at $28.5 Billion in the same year, followed by the United Arab Emirates (UAE) $18.2bn, Kuwait ($11.8bn), Oman ($7.2bn), Qatar ($6.8bn) and Bahrain ($2.1bn). India topped the list of recipient countries of foreign remittances from the GCC countries with $29.7bn, or 39.9% of the overall remittances, followed by Egypt having received $6.9bn (9.3%), Pakistan with $6bn (8%), the Philippines with $5bn (7.6%), Bangladesh with $3.1bn (4.1%), Sri Lanka with $2.7bn (3.6%), Nepal with $1.9bn (2.4%), Yemen with $1.2bn (1.6%) and Jordan with $962 million (1.3%), the report said. Qatar ranked first in having the highest percentage of foreign workers compared to the national population, where foreign residents reached 1.3 million, or 76.8% of the population, which stood at 1.7 million by the end of 2010, followed by the UAE with 3.3 million foreign residents (63.1%), Kuwait with 2.1 million (58.6%), Oman (32.8%), Bahrain (28.5%), and Saudi Arabia (26.4%), the report said. Indians constituted the largest segment of foreign workers. They were 4.9 million, or 32.2% of total workers, by the end of 2010, followed by Pakistan with 2.0 million (13.1%), Egypt with 1.6 million (10.8%), Yemen with 955,900 (6.3%), and the Philippines 934,800 (6.2%), the report said. Last April, a World Bank report said global remittance flow increased 10.77% in 2012 to 514 billion, up from 464 billion in 2011. Remittances to the developing world are estimated to have grown by 5.3% to 401 billion last year, up from 380 billion, the report said.
GMT 12:09 2018 Monday ,26 November
Black Friday less wild as more Americans turn to online dealsGMT 15:07 2018 Sunday ,18 November
Refugee host countries discuss UNRWA's financial crisisGMT 17:22 2018 Wednesday ,31 October
Russia climbed to 31st place in Doing Business-2019 ratingGMT 16:53 2018 Wednesday ,17 October
"Putin" We need for collective restoration of Syria's economyGMT 14:02 2018 Friday ,12 October
Govt to announce incentives package for Overseas PakistanisGMT 18:26 2018 Saturday ,06 October
Dubai attracts Dh17.7 billion in foreign direct investmentGMT 09:02 2018 Friday ,21 September
Economy of Georgia demonstrates "strong signs of recovery"GMT 09:03 2018 Wednesday ,24 January
German investor confidence surges in JanuaryMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor